| Accumulated Other Comprehensive Income (Loss) |
Accumulated Other Comprehensive Income (Loss) The table below presents the changes in accumulated OCI after-tax for 2022, 2021 and 2020.
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| (Dollars in millions) |
Debt Securities |
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Debit Valuation Adjustments |
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Derivatives |
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Employee
Benefit Plans
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Foreign
Currency
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Total |
| Balance, December 31, 2019 |
$ |
323 |
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$ |
(1,494) |
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$ |
(400) |
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$ |
(4,168) |
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$ |
(894) |
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$ |
(6,633) |
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| Net change |
4,799 |
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(498) |
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826
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(98) |
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(52) |
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4,977
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| Balance, December 31, 2020 |
$ |
5,122 |
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$ |
(1,992) |
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$ |
426 |
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$ |
(4,266) |
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$ |
(946) |
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$ |
(1,656) |
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| Net change |
(2,077) |
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356 |
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(2,306) |
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624 |
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(45) |
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(3,448) |
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| Balance, December 31, 2021 |
$ |
3,045 |
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$ |
(1,636) |
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$ |
(1,880) |
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$ |
(3,642) |
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$ |
(991) |
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$ |
(5,104) |
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| Net change |
(6,028) |
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|
755
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(10,055) |
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(667) |
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(57) |
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(16,052) |
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| Balance, December 31, 2022 |
$ |
(2,983) |
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$ |
(881) |
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$ |
(11,935) |
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$ |
(4,309) |
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$ |
(1,048) |
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$ |
(21,156) |
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The table below presents the net change in fair value recorded in accumulated OCI, net realized gains and losses reclassified into earnings and other changes for each component of OCI pre- and after-tax for 2022, 2021 and 2020.
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Pretax |
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Tax
effect |
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After-
tax |
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Pretax |
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Tax
effect |
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After-
tax |
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Pretax |
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Tax effect |
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After-
tax |
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| (Dollars in millions) |
2022 |
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2021 |
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2020 |
| Debt securities: |
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| Net increase (decrease) in fair value |
$ |
(7,995) |
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$ |
1,991
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$ |
(6,004) |
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$ |
(2,749) |
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$ |
689 |
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$ |
(2,060) |
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$ |
6,819 |
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$ |
(1,712) |
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$ |
5,107 |
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Net realized (gains) losses reclassified into earnings (1)
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(32) |
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8
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(24) |
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(22) |
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5 |
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(17) |
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(411) |
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103 |
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(308) |
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| Net change |
(8,027) |
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1,999
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(6,028) |
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(2,771) |
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694 |
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(2,077) |
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6,408 |
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(1,609) |
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4,799 |
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| Debit valuation adjustments: |
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| Net increase (decrease) in fair value |
980
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(237) |
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743
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449 |
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(103) |
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346 |
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(669) |
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156 |
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(513) |
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Net realized (gains) losses reclassified into earnings (1)
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16
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(4) |
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12
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13 |
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(3) |
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10 |
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19 |
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(4) |
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15 |
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| Net change |
996
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(241) |
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755
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462 |
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(106) |
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356 |
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(650) |
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152 |
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(498) |
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| Derivatives: |
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| Net increase (decrease) in fair value |
(13,711) |
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3,430
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(10,281) |
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(2,849) |
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|
703 |
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(2,146) |
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1,098 |
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(268) |
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830 |
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Reclassifications into earnings: |
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| Net interest income |
332
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(84) |
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248
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(166) |
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48 |
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(118) |
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6 |
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(1) |
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5 |
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| Compensation and benefits expense |
(29) |
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7
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(22) |
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(55) |
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13 |
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(42) |
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(12) |
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3 |
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(9) |
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| Net realized (gains) losses reclassified into earnings |
303
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(77) |
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226
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(221) |
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61 |
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(160) |
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(6) |
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2 |
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(4) |
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| Net change |
(13,408) |
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3,353
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(10,055) |
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(3,070) |
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|
764 |
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(2,306) |
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1,092 |
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(266) |
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|
826 |
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| Employee benefit plans: |
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| Net increase (decrease) in fair value |
(1,103) |
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276
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(827) |
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463 |
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(72) |
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391 |
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(381) |
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80 |
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(301) |
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Net actuarial losses and other reclassified into earnings (2)
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198
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(49) |
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149
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|
295 |
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(67) |
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228 |
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261 |
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(63) |
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198 |
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| Settlements, curtailments and other |
11
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—
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11
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5 |
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— |
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5 |
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5 |
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— |
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5 |
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| Net change |
(894) |
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227
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(667) |
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|
763 |
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(139) |
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|
624 |
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(115) |
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17 |
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(98) |
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| Foreign currency: |
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| Net increase (decrease) in fair value |
332
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(390) |
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(58) |
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|
296 |
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(341) |
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(45) |
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(251) |
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199 |
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(52) |
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Net realized (gains) losses reclassified into earnings (1)
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—
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1
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1
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(5) |
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5 |
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— |
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(1) |
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1 |
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— |
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| Net change |
332
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(389) |
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(57) |
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|
291 |
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(336) |
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(45) |
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(252) |
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|
200 |
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(52) |
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| Total other comprehensive income (loss) |
$ |
(21,001) |
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$ |
4,949
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$ |
(16,052) |
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$ |
(4,325) |
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$ |
877 |
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$ |
(3,448) |
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$ |
6,483 |
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$ |
(1,506) |
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$ |
4,977 |
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(1) Reclassifications of pretax debt securities, DVA and foreign currency (gains) losses are recorded in other income in the Consolidated Statement of Income.
(2) Reclassifications of pretax employee benefit plan costs are recorded in other general operating expense in the Consolidated Statement of Income.
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